HSBC has hired Ben Welsh from Goldman Sachs as head of foreign exchange sales and trading for North America in its New York office.

Welsh, who joins as a managing director, was previously head of foreign exchange spot and forward trading at Goldman Sachs in New York. At HSBC Bank USA, HSBC's US commercial banking subsidiary, he will report to Joe Petri, the bank's treasurer for North America. Welsh replaces Alain Delelis, who previously headed the team and remains with the bank in the FX team.